Trust Wallet & Kiln DeFi: Simplifying access to stablecoin yield for 200M+ users
Trust Wallet has long been the go-to non-custodial crypto wallet for millions – providing a secure and user-friendly hub for both beginners and advanced users. Today, Trust Wallet launches Stablecoin Market powered by Kiln DeFi, making it easier for users to earn stablecoin yield with just a few taps.
The growth of stablecoins
In 2024, stablecoins saw significant growth, with market cap figures surpassing $200 billion and transaction volumes rising by nearly 40% compared to the previous year. More users are adopting them as a less volatile option with predictable yield opportunities, and fintech firms are increasingly using stablecoins for settling funds – as seen with Stripe’s $1B Bridge acquisition.
Recognizing these trends and growing demand, Trust Wallet decided it was time to help users put their assets to work in a secure, simple, and effective way – introducing Stablecoin Market.
Stablecoin Market is a new feature in Trust Wallet’s Earn hub that allows users to
deposit stablecoins and earn yield through DeFi protocols and stablecoin
strategies. Users can deposit USDT, USDC, DAI, and USDA across Ethereum, BSC,
Arbitrum, and Base, with the flexibility to withdraw anytime.
Where does stablecoin yield come from?
Stablecoin yield is generated onchain through mechanisms such as lending protocols, liquidity pools, and other sources and strategies. For example, when stablecoins are lent through platforms like Aave or Morpho, lenders earn rewards. Similarly, liquidity providers on decentralized exchanges earn fees from trading activity.
The yield offered by each protocol varies based on factors like market demand, protocol-specific risk, and liquidity. On some chains, yield may be higher when borrowing demand exceeds supply – but these differences tend to stabilize over time as more users adopt these strategies. Ultimately, users will benefit from having access to a range of strategies that match their risk appetite. But wallets rarely support many protocols at once, with users having to manage funds on different platforms manually.
The challenge of direct integrations
Building direct integrations with multiple DeFi protocols is complex. Each protocol has its own technical requirements, reward structure, security measures, and risk management practices. Integrating them individually would involve:
• Multiple technical interfaces: each protocol needs a custom integration that demands extensive development and continuous monitoring.
• Risk management: every protocol presents unique risks – such as liquidation losses, collateral illiquidity, or smart contract vulnerabilities – that require dedicated resources.
• User experience complexity: combining several platforms into one interface can create friction and confusion for the end user.
• Ongoing maintenance: maintaining compatibility and security across various protocols is both time and resource-intensive.
Powering Trust Wallet Stablecoin Market with Kiln DeFi
To address these challenges, Trust Wallet integrated Kiln DeFi to create a unified solution for stablecoin lending. With this integration, users can deposit stablecoins – such as USDT, USDC, DAI, and USDA – across multiple networks, including Ethereum, BSC, Arbitrum, and Base, and access major DeFi protocols, like Aave, Compound, Morpho, Angle, Venus, and Spark, all without leaving the wallet. This approach enables users to choose strategies that best meet their needs in terms of speed, fees, yield and liquidity, thereby optimizing their potential rewards while keeping the experience user-friendly.
Yield on stablecoins has become one of the most demanded features by our users, with many seeking to transfer funds from their traditional fiat accounts into crypto to earn yield. For Trust Wallet, integrating with Kiln greatly simplifies the entire process with its ready to integrate APIs, smart contracts and widget. — Eowyn Chen, CEO of Trust Wallet
We are pleased to bring access to stablecoin yield to Trust Wallet, a longtime partner of Kiln with a history that includes our earlier projects such as Kiln Onchain, Connect, and Validators. As DeFi becomes more widespread and stablecoin yield reached double digits during the bull market, many users have recognized that stablecoins offer notable advantages. With Trust Wallet now live, our goal is to provide a solid experience for its users and continue refining the product. — Laszlo Szabo, Co-founder and CEO @Kiln
While Trust Wallet handles the front-end and user experience, we take care of the technical complexities. Our smart contracts have been audited by Quantstamp and Spearbit, and our platform is SOC 2 Type II certified. While inherent risks such as potential liquidation losses, collateral illiquidity, or vulnerabilities in third-party smart contracts persist, these measures provide an extra layer of assurance.
A simple experience for Trust Wallet users
The stablecoin yield feature is designed to be both familiar and straightforward:
• On-the-go deposits and withdrawals: users can deposit stablecoins into various vaults with just a few taps within Trust Wallet.
• Onchain transparency: all transactions are recorded onchain, ensuring full transparency.
• Bonus rewards: in addition to market-rate yield, users may receive extra incentives – such as additional Morpho tokens for participation in certain vaults.
Why choose Kiln DeFi
As mentioned, managing direct integrations with multiple DeFi protocols is complex. Instead, Trust Wallet and similar companies partner with us because we aggregate numerous protocols into one solution – streamlining integration and maintenance.
Our platform offers flexible, onchain monetization, including staking, access to DeFi, and more, with automated revenue sharing and commission payouts. We minimize smart contract risk by putting our contracts through rigorous audits, removing security concerns from our partners. With our API and widget integration options, Kiln DeFi can be integrated in just a few days, allowing users to start earning DeFi yield quickly.
As a leading platform in staking and digital asset rewards, Kiln supports institutional customers and offers white-label earning functionality. Running validators on major PoS blockchains, over $13 billion in crypto assets had been staked through Kiln as of the end of 2024, and we currently manage around 4.9% of the Ethereum network and 2.6% of the Solana network, trusted by companies like Fireblocks, VanEck, Bitpanda, Crypto.com and more.
Contact us to get started!
About Kiln
Kiln is the leading digital asset rewards management platform, enabling businesses to earn rewards on their digital assets, or to whitelabel earning functionality into their products. Our platform is API-first and enables fully automated validators, rewards, and data and commission management. With over $11 billion crypto assets being programmatically staked, Kiln has a particularly strong track record on Ethereum as we run about 5% of the network; this includes 50,000+ active validators with 0 slashing events.
About Trust Wallet
Trust Wallet is the secure, self-custody Web3 wallet and gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, as well as buy, sell, and stake crypto to earn rewards — all in one place and without limits.
